All the Following Are Reasons for the High Failure Rate

question 200

Multiple Choice

All the following are reasons for the high failure rate of new businesses except

• A) not having sufficient know-how to run a business in the chosen market or area.
• B) not having expertise in the essentials of business operations, including finance, purchasing, selling and production.
• C) not taking the time to craft a vision and mission, and formulate, revise, and properly implement strategy.
• D) not keeping track of the numbers and failure to control business finances.
• E) not taking the time to adequately promote the product.

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Definitions:

Information Technology

The study or use of systems (especially computers and telecommunications) for storing, retrieving, and sending information.

Unemployment Insurance

A government program that provides financial assistance to unemployed workers who have lost their jobs through no fault of their own.

Frictional Unemployment

Frictional unemployment occurs when there is a temporary mismatch between workers and jobs, such as when individuals are transitioning between jobs or entering the workforce for the first time.

Structurally Unemployed

Unemployment that occurs due to shifts in the economy that create a mismatch between the skills of the workforce and the needs of the employers.